What’s Going On With Gold and Silver?

By Michael Noonan

Step back for a moment and absorb what just transpired in the ongoing Greek tragedy that refuses to go away. Greece, with no possibility of ever repaying its fictitious debts to the EU, and the EU, in all of its greed and avarice, for no wisdom is to be found within that body of elite-pushing bureaucrats, it determined that the best and ONLY solution for debt-laden Greece was to LOAN MORE “MONEY.”

Need anything more be said about what is going on in European politics?

In the real world, if you cannot repay your debt[s], your car is repossessed, your house undergoes foreclosure, you cannot get credit, your credit cards get canceled, your debt-burdened ass is hauled into court, often times, your family falls apart, etc, etc, etc. Not so for Greece. She gets offered even more debt from her creditors. Only in politics.

We covered this ground before: Greece was loaned nothing of value. Nothing. Just fictitious digitalized numbers created at the whims [actually the purposeful direction of the elite’s bankers] of the IMF/EU, [off by one letter, the “E” should have been an “F” to more accurately describe what happens to the populations of member countries]. [See 17th paragraph from article Elite NWO Checkmate.] Now the bankers want to be repaid in tangibles, like the country of Greece itself, the Greek banks, and whatever else can be siphoned from the economically broken backs of the innocent Greek people.

Where will the billions of new loaned money to Greece go? Not to the people, not to rebuilding Greece. It will be recycled back to the creditors to keep the facade of bank solvency alive. This is a joke that is not laughable.

Lend nothing, take back everything not nailed down. It has been the Rothschild formula for centuries.

Pay attention. We have said this before: the elites and their bankers take no prisoners. They could care less about people. All the elites care about is taking total control of the currencies of every country in order to bring that country to its financial knees and totally beholding to the dictates of the moneychangers.

The obvious, unstated and perhaps unnoticed point is the the Euro currency is a total fiat totally controlled by the bankers. Hello, Europe?! The sole purpose of the EU is to enslave all Europeans. Is everyone oblivious to the obvious?

All politicians are lying whores, with apologies to whores for making the connection.
Tsipras just sold out the Greek people to a deal worse than the one initially presented months ago, and more importantly, against the referendum held to vote no for the EU’s [mostly elite sell-out Merkel and Germany] austerity program.

Greek banks closed, [the elite’s way of forcing people into financially hopeless situations to get what they want]. People who stupidly still kept their money in the elite’s banking system were denied access to what they thought was theirs. Two lessons: people who keep money in any bank anywhere in the world are now considered creditors, not depositors, and you can, and will be denied access to what you “believe” to be your funds at the dictates of the bankers. Secondly, anything people keep in the form of paper, or worse,
digitalized entries on their accounts, are discovering the true “value” of paper. [None.]

Those who had gold and silver were able to use their own form of wealth to acquire whatever they needed, assuming items were available, and more is available when gold or silver is the basis for the transaction, although alcohol, coffee, cigarettes, even sex facilitate trade exchanges.

If you have no gold or silver, you will be “Greeced,” “Cyprused,” financially screwed for not taking responsibility for your own economic future. Those who already own either or both gold and silver know this, [but still complain about the paper price continuing to decline.]

Precious metals have always been a store of value and always will be. One of the main reasons for FDR’s Executive Order for US “persons” to turn in their gold was to strip people from being independent of the government. Those who had gold and silver did not need to be reliant upon the government for their economic needs. Take away their most reliable form of wealth, substitute it for fiat paper, and now people had to rely upon the government to survive. To paraphrase Chuck Colson, Nixon’s aide, “When you have them by the financial balls, their hearts and minds will follow.”

That was the plan all along, starting from when the Federal Reserve Act of 1913 was enforced on the country by the foreign banking elites. First, gain control of the issuance of a nation’s currency, [again, the classic Rothschild formula] then the rest falls into place: control of the government, control of business sectors, and the media. The public hears only what the elites want them to hear and [falsely] believe.

We have mentioned Agenda 21 several times and always exhorted people to take some time and research what this insidious UN-sponsored agenda is all about. In a nut shell, Agenda 21 is the UN takeover of all local governments in order to corral the masses in whichever direction the UN decides. One of those directions is to ultimately prevent people from owning their own land, water rights, etc…total enslavement.

Here is a small example. In 1998, the Montana Fish Wildlife and Parks approached local county commissioners to persuade them with a proposal to cooperate in driving rural residents out of the Montana countryside into cities. Why? People in rural areas were pretty self-reliant, as a matter of necessity. These people have no need for government support and would highly resent and oppose any government interference. If the government could get people more centrally located, people can be more easily controlled.

The point, beyond the obvious deceit? This is an Agenda 21 scheme, and we are talking about 1998, in a seemingly innocuous location, sparsely populated Montana. Note that the same agenda is being plied throughout the United States. It is a bit like the 1956 movie Invasion of the Body Snatchers. One thing is certain, the elites are taking total control of you and your life right under your unobserving noses.

Read the brief but informative article by Joshua Krause, Agenda 21 Under A New Name,
from which the above comes.

We have also covered how Obama has sold out America and Americans, at the behest of the elites, lately through TPP, TTIP, and TISA, in our widely read article, Obama, Western World’s Worst Enemy for Freedom. This, folks, is how the elites work and why all politicians are pathetic as a puppet ruse for the NWO.

As an aside, for more about the US decline under the directed hands of the president, you may find this interesting to read, Freedom or the Slaughterhouse, American Police State
from A to Z.

The larger point to be made is for those who are myopically focused on the current price for gold and silver, all of the news-related stories about how much gold China owns, how many coins are being bought in record quantities, etc, etc, stories everyone has heard for the past three years, that focus is grossly misplaced.

First Cyprus, now Greece, and it will not stop there. The entire corrupt Western banking system is bankrupt, a fact few people are willing to accept. The entire Western banking system is corrupt. PMs people have a greater appreciation for that repeated statement, but most people simply cannot comprehend the weight of that situation.

The price for gold and silver is being artificially and purposefully suppressed by central bankers. The Western world is falling apart at the fiat financial seams, and those in control will resort to whatever means necessary to remain in control, evidenced by the unending proxy wars and Middle East disruptions started by the US. A Third World War cannot be taken out of the equation as the bankers are scrambling for their greedy lives, stealing as much wealth from people as possible.

That is where everyone’s primary concern would be well-served to know and continually be aware of what is going on, because when this banker-created financial disaster comes to it sordid end, and it cannot be avoided, owning and physically holding/controlling gold and silver will be one of the best means of surviving financially.

How and when things unfold, no one knows. All one can do is to be informed and prepared, and of the two, being prepared is more important than being informed.

For as long as the corporate federal government can keep its unwanted “dollar” moving higher, it is an apt barometer for the opposite direction of gold and silver.

NMT = Needs More Time. Gold continues its decline in a snail-like fashion, despite the obvious intended assaults to drive price lower. Those efforts continue to succeed, but it appears with decreasing effect.

Last week, we commented there was little reason why gold could not go lower, and it did. The same still applies until there is some sign of ending activity.

Friday’s close touched the lower channel line, and that puts gold in an oversold condition. We hasten to add, oversold very often becomes moreoversold, so it should not be taken as a potential trade from the long side. You will see how silver reached an oversold condition. While gold is clearly in a similar position, it does not mean it will react in a similar manner, a mistake too many make in reading charts.

Every situation is unique, regardless of any past similar formations.

Just as we cautioned to obverse how gold reacts to its just breaking an obvious support area, the same holds here. Both silver and gold can move sideways, continue lower, or rally in response to broken support. The absolute lowest probability is a rally back over support that can hold.

The trend for both metals remains down, and from the last two lines to Ode On A Grecian Urn:

“Beauty is Truth, truth beauty,—–that is all
ye know on earth, and all ye need to know.”

Source: http://tapnewswire.com/2015/07/whats-going-on-with-gold-and-silver/

Europe Is Now Sinking Fast: The good are being dragged down by the bad

With the Eurozone having being displaced from the financial headlines by the American presidential election, you might have briefly thought that its problems had gone away. They haven’t.

It’s just that the public is expected to absorb one major story at a time. And now that the presidential election is done and dusted, Europe is rapidly returning to the headlines. This is not desired by the powers-that-be, who desperately need us to believe things will get better with a little patience.

Behind the scenes, in order to prevent a systemic crisis, the authorities (through the European Central Bank) have been hard at work keeping a lid on interest rates for Spain and Italy, which act as everyone’s market bellweather. Their strategy focuses on the hope that high bond yields are just a lack of 'animal spirits' – and if only they can be reignited!

Time is working against all countries in the Eurozone because the good are being dragged down by the bad.

You don’t have to be an economic genius to understand that the perpetual uncertainty over the Eurozone’s future has led to a widespread freeze on industrial investment and development. Industrial production is collapsing at an accelerating rate, falling 7% year-on-year in Spain and Greece, 4.8% in Italy, and 2.1% in France. The downtrends for industrial production are readily apparent in the chart below:

The businesses that are doing well (and there are some) are those businesses with strong balance sheets and solid export order books for non-Eurozone markets; unfortunately, they are concentrated in countries like Germany, Holland, Finland, and Austria. They are not located where they can contribute to economic progress in Spain, Italy, Greece, or France, and so they are not adding to the tax revenue desperately sought by those governments.

Despite the recent deal worked out with Greece, the old cliché about kicking the can down the road is close to becoming no longer possible. Deferring the inevitable is only a political option so long as there is no immediate damage from doing so. But this is no longer true in the Eurozone, where political procrastination is now identifiably responsible for social unrest. It’s not just the trade unionists in revolt; now it is the middle classes as well. Doctors and teachers in Greece do not get paid anymore, and it is going that way in Spain, with regional governments surviving by simply not paying their bills. Government is destroying society, proving the falsity of the heretofore accepted belief (in Europe, anyway) that government makes society better. But then, anyone who has bothered to read Hayek’s The Road to Serfdom will not be surprised.

What was not anticipated in Hayek’s masterpiece is the divided state that is emerging. Greece is part of a larger EU and Eurozone bureaucracy and cannot achieve statist ends by turning her citizens into serfs. The government itself is subservient to higher authorities and is now having that medicine applied to it by its peers. Every visit by the Troika (collectively the European Central Bank (ECB), International Monetary Fund (IMF), and the European Commission) screws the Greek government further towards its own serfdom.

Keep in mind just one thing: Greece is utterly broke and cannot escape that fact. All of the posturing by the three Troika members is designed to avoid facing this reality. The political elite drive this party line and rigidly conform to it. However, there is increasing unease among powerful elements in the background, and in particular, sound money advocates in the Bundesbank are deliberately pushing for different solutions than those pursued to date.

Jens Weidmann, who is the Bundesbank’s chief and its representative on the ECB’s Governing Council, is remarkably outspoken on this issue. In a recent interview with the Rheinishe Post, Weidmann pointed out that the ECB and other national central banks in the Eurozone are now Greece’s largest creditors and cannot take a haircut on Greek debt. Furthermore, they cannot write off this debt, since that would amount to monetary financing, which is forbidden under Eurozone rules. So, he concludes, the ECB is trapped.

This intervention is important, because – unusual among the world’s central banks – the Bundesbank is viewed by the German public as the protector of the currency against the politicians. The German economy is traditionally driven by small savers, who are secure in the knowledge that the Bundesbank won’t let them down by printing money. While this is perhaps a stereotypical view, a hangover from the days of the deutschemark, it is still true with respect to public attitudes. And this is important because there is greater public trust in the head of the Bundesbank, Jens Weidmann, than in any politician, including Chancellor Merkel. We must listen to Weidmann, not Merkel.

Returning to Greece, forward-looking markets have already written it off, but getting there is not easy. On 11 November, by a slender majority, the Greek Parliament agreed to the latest austerity demands from the Troika, in the belief that the Troika will come up with urgently needed cash. This is cash for an economy that is tanking with its industrial production collapsing. Deposits have flown from the banks, which, without the ECB’s recycling of funds both through the TARGET2 settlement system and by taking in yet more worthless Greek debt as collateral, would themselves default. Tax revenues, insofar as they can be collected, are simply vaporizing. In the words of the classic Monty Python sketch, this parrot is dead, expired, and everyone knows it. Despite this, the Troika caved in (to ironic laughter from the press) on 13 November by giving Greece a further two years to get its government debt to GDP under 120%.

The concern, obviously, is that Greece is a dry run for Spain and Italy. It is also, as I argue below, a dry run for France, which is in terrible shape and deteriorating rapidly. This is why the protector of German savers, Herr Weidmann, is worried. He is signalling that the precedents set in dealing with Greece will ultimately destroy Germany.

In my last article for PeakProsperity.com, I argued that Germany, not Greece, should and will leave the Eurozone, perhaps taking Holland, Finland, Luxembourg, and Austria with her. It has always been clear that this is the last thing the political elite would consider, but unless Mrs Merkel reconsiders her position, she will be overruled by the Bundesbank, and perhaps also her own finance minister, Wolfgang Schäuble, who is known to be extremely concerned.

Anyway, let me throw in a little ray of sunlight for Germany (or is this the light an oncoming train in the tunnel?) For some reason that's not entirely clear, the outstanding TARGET2 claims by the Bundesbank on the other Eurozone national banks actually fell in October. The updated chart is below:

That's the good news. The bad news is that the previous down-tick (in December 2011) was in the wake of a drop in Spanish bond yields from over 7% in mid-2011 to a low of under 5% last January. This time, Spanish yields fell from 7.5% three and a half months ago to 5.4% a month ago. Italian government bonds have followed a similar pattern, as shown in the chart below:

It is perhaps logical to link changes in TARGET2 balances with changes in sentiment in Spanish and Italian bonds. These bond yields show signs of bottoming out, which is clearly visible on the chart. The only reason these bond yields have fallen to these low levels is because the ECB forced them there. But when these yields rise, which they probably will because there is little doubt the ECB’s manipulation cannot succeed for very long, the accumulation of TARGET2 imbalances on the Bundesbank’s book will quickly exceed €1 trillion.

And there is a further problem. One of the reasons French ten-year government bond yields are only 2.1%, and have even been briefly negative for her six-month bills, is that some of the capital flight out of Spain and Italy has been deposited in French banks, only to be then lent on to the French government.

But France, as I argue later in Part II of this article, is itself a basket case, only not yet widely recognised as such because it has benefited from this capital flight from Spain and Italy.

At some stage, probably in the next six months, these accumulated deposits in the French banks will, in turn, seek a safer home elsewhere – and where else but in the German banks? And so the Bundesbank faces the prospect of a second wave of capital flight and escalating TARGET2 imbalances.

Of course, this would not matter if it was certain that no one was leaving the Eurozone, and the TARGET2 system was constructed on the assumption that no one ever would. One could argue that Greece leaving would not be too much of a problem, other than the precedent it would create. This is why it is so important to keep Spain and Italy in the system.

In Part II: Europe's Mexican Standoff we explain why the answer to the question of Who will ultimately pick up the tab? when a Eurozone member leaves is not at all clear. In fact, the "stability" of Europe right now hinges completely on no one leaving (or defaulting).

After all, TARGET2 is a settlement system with offsetting cash creation and destruction carried out by the national central banks on delegation from the ECB. But nonetheless, it is understandable that the sound-money guardians at the Bundesbank are increasingly alarmed at the progression of events.

To borrow from Dirty Harry, it leaves those tied to Europe's future pondering a seminal question: "Do I feel lucky?" Well, do ya?

Original post @ http://www.peakprosperity.com/blog/80069/europe-now-sinking-fast